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As part of a series of reports focused on scaleup ecosystems worldwide, Endeavor Insight has analyzed the impact of scaleup companies on the economies of two emerging markets: Bangladesh and Uganda. Entitled “The Critical 5 Percent” (Bangladesh) and “The […]

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Chile’s DBS Beauty Store, founded by entrepreneur Dominque Rosenberg, recently announced plans to be acquired by Chilean pharmaceuticals giant SalcoBrand. DBS currently operates over 30 stores throughout Chile in addition to a variety of other distribution channels. Formed in 2006, […]

Endeavor Entrepreneur company Pozitron, founded by Fatih Işbecerand Fırat İşbecer, recently announced its acquisition by mobile commerce giant Monitise Group in an all-share deal worth $100 million. A Turkey-based mobile software development company, Pozitron was founded in 2000 with the goal of creating, integrating and securing business solutions through the use of cutting-edge mobile technology. Since its founding, the company’s products have reached millions of customers in the region and include solutions for some of Turkey’s largest banks, airlines, and media companies. The company has also earned recognition for its business model from organizations such as Harvard Business School and Deloitte, as well as partnerships with top tech companies like Apple, IBM and Microsoft.

The UK-based Monitise Group, which works with payment partners like Visa to build and roll out mobile solutions, is continuing its global expansion efforts with the Pozitron acquisition following similar deals in the U.S. and African markets. The acquisition signifies a move to expand into the rapidly developing Middle East market, where the number of mobile subscribers is expected to surpass 300 million in 2014. With Turkey often viewed as a gateway into the region, the deal also demonstrates the strength of the country’s startup and scaleup scene, with the Endeavor Turkey affiliate already serving over 60 local entrepreneurs. Fatih Işbecer, Pozitron’s current CEO, will become head of Monitise’s Middle East & Africa business, bringing along COOFırat İşbecer and the company’s existing 130 employees.

Pozitron founders with Endeavor Turkey staff and entrepreneurs at the 2011 Endeavor Summit

This announcement demonstrates the impact that Endeavor’s work continues to have on its entrepreneurs, and the importance of access to mentorship, support and growth opportunities for companies in the critical scaleup stage. Since their selection as Endeavor Entrepreneurs in 2007, Pozitron has been an active member in the network, securing several client contracts with Endeavor’s support and advisory services. In addition to sessions with Endeavor mentors, Fatih and Fırat have benefited from the eMBAand G-Lab programs, Endeavor Catalyst, and participation in Immersion Tours. The entrepreneurs have also been active in referring future candidates to Endeavor’s selection pipeline.

This video was filmed during Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 2013).

In this fireside chat, TechCrunch Editor Eric Eldon interviews Ali Partovi about his path from serial entrepreneur (iLike, LinkExchange, Code.org) to early-stage investor (Facebook, Dropbox, Zappos and Airbnb) to startup advisor. Hear why sustainable agriculture and food companies like Brightfarms and Farmigo are next on his radar.

Ali Partovi is a Silicon Valley entrepreneur & investor. Ali co-founded LinkExchange (acquired by Microsoft for $265 million), and iLike (the first successful app on the Facebook platform). He was an early investor in Dropbox, Facebook, OPOWER and Zappos. Ali also co-founded Code.org, a non-profit to promote Computer Science education. Ali’s passion and current focus is sustainable food and agriculture.

Eric Eldon is the Co-Editor of TechCrunch. He was previously the Co-Founder and editor of Inside Network, where he managed publications including Inside Facebook, Inside Social Games and Inside Mobile Apps. Before that, he spent a couple of years covering technology and finance at VentureBeat, a leading Silicon Valley publication where he was the first employee. Eric attended Stanford University and graduated with a degree in International Relations in 2005. He reported and edited news for The Stanford Daily student newspaper.

Harvard Business School(HBS), working closely with Endeavor, profiled the organization’s U.S. expansion into Miami in a recent case study that explores Endeavor’s operating model, global strategy, and the rigorous decision process behind the establishment of a new affiliate. This is the third study conducted by HBS examining Endeavor’s work, with the first study(2003) focused on Endeavor’s plans for growth and the second study (2009) exploring the concept of high-impact entrepreneurship. In this latest case, the research led by HBS Professor William Sahlman examines both the economic conditions that made Miami an attractive choice for Endeavor’s first U.S. venture, and the steps Endeavor took to turn the idea into a reality.

When the idea of Miami was first proposed in 2012, an evaluation of the city’s entrepreneurial ecosystem found that there was already a strong community of talent and a viable infrastructure, demonstrated by one of the highest rates of new business formation among the 15 largest U.S. metropolitan areas. However, since 2000, the number of large businesses in the area declined by more than 20 percent, coinciding with a rapidly rising unemployment rate. It was evident that there was a vibrant start-up scene in Miami, but a lack of consistent access to investment capital and mentorship opportunities prevented many of these small businesses from reaching the critical scaleup stage.

Supporting entrepreneurs at this level, when job creation and economic impact is most tangible, is where Endeavor’s “mentor capitalist” model would prove valuable to Miami and where members of Endeavor’s senior leadership saw a key opportunity to expand the organization’s mission. There were still questions, however, of whether a U.S. expansion would be consistent with Endeavor’s values and capabilities, and whether it was the best choice among so many other potential markets. What followed was careful consideration and debate around issues of funding, opportunity cost and organizational impact, outlined by the study in an examination of how Endeavor is working to foster high-impact entrepreneurship beyond just emerging markets, but in every region where there is a verifiable need.

Daily Secret, founded by Endeavor Greece Entrepreneurs Nikos Kakavoulis and Phaedra Chrousos, recently announced that it has raised $1.25 million in a Series B round of venture funding to support the company’s global expansion efforts.

Founded in Athens, Daily Secret is a digital media brand that caters to young urban professionals by providing daily newsletters that share the latest in dining, nightlife, retail and culture tailored to each of the 35 markets it serves. With this new round of funding led by PanAfrican Investment Co., the company is hoping to expand its presence in Africa in major metro areas like Nairobi, Lagos and Accra. Along with these key African cities, Daily Secret also plans to expand in over a dozen other markets within the next year.

As the first entrepreneurs from Greece to join the network in 2012, Daily Secret has been active in many Endeavor services including one-on-one sessions with Endeavor mentors and investors.

Endeavor Insight, with support from the Knight Foundation, recently released the first publication in its “City Hubs for Entrepreneurship Series”, explaining the results of an analysis on the opportunities and obstacles to Miami’s growing entrepreneurship ecosystem. The analysis was based on data collected from more than 100 early-stage and growth-stage companies, as well as interviews and focus groups with entrepreneurs, investors and policymakers. The report found a clear and demonstrable need for Endeavor’s work in the region where entrepreneurship is quickly on the rise but still facing many critical challenges. As Endeavor’s first U.S. affiliate, the Miami officewas established in September 2013 with support from the Knight Foundation and a managing board composed of some of the city’s top investors and business leaders.

In the report, Endeavor found that that the central challenge for local entrepreneurship was that many companies were starting up, but very few were growing to become medium or large firms. A recent report from the Ewing Marion Kauffman Foundation demonstrated that Miami had the highest rate of new business formation among the 15 largest U.S. metropolitan areas in 2012. However, since 2000, the number of large businesses in the area has declined by more than 20 percent. Endeavor’s own research found that the city’s entrepreneurial community reported a variety of strengths to working in Miami, including a high quality of life, vibrant culture, and an accessible customer base. The challenges to scalable growth however, including a lack of expert talent, mentorship and opportunities for capital, are where Endeavor’s work looks to add the most value. The success of the Miami affiliate thus far has led to the selection of its first entrepreneurs, Roger Duarteand Sam Gorenstein of My Ceviche and Jesus Rodriguez of KidoZen, at the 51st International Selection Panel in Dubai.

SAP, a global corporate partner of Endeavor,worked closely with Endeavor staff during the 51st International Selection Panelin Dubai to offer candidates the opportunity to brainstorm and share business development strategies in a day-long ‘design thinking’ session.

Led by SAP VP Sameer Areff, the goal of the session was to provide a forum for the entrepreneurs to uncover and address key business challenges by applying a collaborative, user-centered design approach. With the help of a graphic illustrator who transcribed the conversations, advisers from SAP and Endeavor staff worked with the entrepreneurs to identify issues that touched on a range of external and internal challenges, from customer service to product development. The resulting ‘roadmap’ provided a case study of issues and approaches for every entrepreneur to relate to their own business model.

“Design thinking is a powerful tool that helps entrepreneurs take a step back from the day-to-day to drill down on a topic or business challenge in a diverse team,” said Nicolette Van Exel, SAP’s Global Director of Corporate Social Responsibility. “SAP uses this internally and with our customers to address critical technology and business questions. By providing this offering to entrepreneurs we hope to help the next generation of business leaders accelerate and innovate.”

Previously, Endeavor worked with SAP to host similar ‘design thinking’ workshops during the 2013 Endeavor Summit, offering an innovative and interactive session to participants. Read more about the Summit event by clicking here.

Endeavor Entrepreneur Fatma Ghaly, managing director of Azza Fahmy Jewellery, was recently featured as a guest judge on the Egyptian reality show El Mashrou3, a series that spotlights young social entrepreneurs as they compete in team challenges that test and improve their real-world business skills. The goal of the series is to not only raise awareness of the culture of entrepreneurship in Egypt, but also provoke discussion of important social causes in the region.

In the episode, Fatma judges the contestants after they are challenged to create a home decor piece from recycled products within a small budget. She evaluated the contestants on creativity, pricing, and feasibility, while also giving advice on project planning. Working with Endeavor’s Egypt affiliate, El Mashrou3 has also featured a number of Endeavor mentors as guests.

Since Azza Fahmy’s selection in 2008, Fatma and the company has been active members of the Endeavor network, receiving introductions to designers and potential partners as well as strategic business advice through the G-Lab Program.

The article highlights entrepreneurship in Latin America and the challenges the market faces against a rising Asian economy, particularly in terms of manufacturing and production. Despite studies that claim that innovation in the region is lagging behind its global competitors, companies like Guibert’s Globant, Bento’s Tecsisand Ricardo’s Imagen Dental demonstrate that high-impact businesses are steadily attracting top talent and investing in products that are growing whole sectors of the region’s economy.

Based in Argentina, Globant is one of the fastest growing software product development companies in the country, aiming to provide clients with solutions that are both design-minded, scalable and efficient. The founders’ goal is to put Argentina on the radar of the global marketplace with an offshore IT services alternative, and to continue attracting top clients from around the world. Since Guibert’s selection in 2005, Globant has expanded rapidly and stands as an Endeavor success story, acquiring fellow Endeavor Entrepreneur company OpenWare and participating in programs like Endeavor Catalyst and the EY Vantage Programamong other activities.

The Brazil-based Tecsis is a leading energy company specializing in the manufacturing of components for wind turbines and serves as one of the world’s largest producers of turbine blades. As a leading exporter in Brazil, Tecsis has seen rapid growth in the U.S. and Europe, and cites a number of global corporations as clients. Since Tecsis’ selection in 2002, Bento has received ongoing support from Endeavor’s services, including participation in the eMBA Programand G-Lab Program, and has also given back by serving as an Endeavor mentor.

In Mexico, Imagen Dental is transforming dental, vision and hearing care for middle-class Mexicans with specialized and affordable service options. In a country where public healthcare is undergoing much change, founders Ricardo and Patricio seek to provide quality and well-trained professionals who can offer Mexicans basic and necessary services. Since their selection in 2006, the entrepreneurs have participated in Endeavor services like the eMBA Programas well asnumerous Immersion Tours and an Endeavor Entrepreneur Summit.

Forbes Middle East, the regional outlet for Forbes business and finance news, recently released a ranking of Saudi Arabia’s top movers and shakers. Four Endeavor Entrepreneurs made the the list of sixty for their work as self-starters who have grown their businesses into high-impact ventures.

The entrepreneurs who made the list include Naif Alqahtani of LSS, Loai Naseem of Lomar, Abdulmohsin Al-Rabiahof Shawarmer and Amr Al Madani and Saeed Saeedof TalentS. The ranking, officially titled “Leaders Inspiring A Kingdom in the Business World” had the goal of putting together a list of “individuals and visionary self-starters who have the power to initiate change and contribute to the Saudi Arabia of tomorrow.” The Saudi Arabian entrepreneurs named have started ventures in fields ranging from supply chain logistics (LSS) and STEM education (TalentS), to fashion apparel (Lomar) and fast food (Shawarmer). Together, these entrepreneurs and their companies are growing an ecosystem of entrepreneurship that continues to mark the Middle East as a globally competitive economy.

Launched in 2012, Endeavor Saudi Arabia is one of seven Endeavor affiliates in the MENA region, which includes Egypt, Lebanon, Morocco, Turkey, Jordan and the UAE. Read the full ranking by clicking here.

Emirates 24/7, a United Arab Emirates’ (UAE) online news outlet, recently profiled the Endeavor affiliate office in Dubai, which was announced in October of 2013.

The official launch of the UAE affiliate was marked by the 51st Endeavor ISPwhich took place December 10th – 12th, 2013 in Dubai, where the country’s first entrepreneurs, Duplays and PropertyFinder, were selected after a rigorous round of interviews and deliberations with some of the region’s top investors and business leaders. As Endeavor’s seventh affiliate in the Middle East, the organization’s growing presence in the region recognizes the thriving community of entrepreneurs that has made it a key global market.

Noor Shawwa was named Managing Director of the office, and will oversee a team on-the-ground in Dubai. See a list of the founding board members, which includes top local Endeavor Entrepreneurs and investors, by clicking here.

“We’re thrilled to include the UAE as a member of the Endeavor network,” said Endeavor co-founder and CEO Linda Rottenberg. “This is one of the world’s fastest growing economies and we hope that we can help bring a number of locally based businesses to scale and play a role in fostering entrepreneurship here.”